Vantage Viewpoint

Archives

Over the last few months, the Target security breach has been a major topic of conversation regarding technology security. A piece of malware was able to infiltrate the retailers network through a backdoor connection and affected roughly 110 million customers.

According to an article from Wired, since being announced in December of 2013, there has been talk of litigation from consumers and banks. While some have been filed, they have either been settled or dismissed. However, there is one lawsuit that could become a major problem for Target.

Chicago-based Trustmark National Bank and Green Bank NA, on behalf of all financial institutions affected by the breach, are suing Target and Trustwave -- the security company that certified the security of Target's network in September 2013. … more

The next big punch has been thrown in the fight between retailers and card providers Visa and MasterCard over merchant interchange rates.

This particular battle stems from the antitrust lawsuit that has been bounced back and forth for years. The original grievance alleges a "conspiracy" with some of the largest banks to fix fees charged during credit card transactions. In 2012, a $7.25 billion settlement was reached for all merchants that sued. However, roughly 8,000 of them have opted out and appealed because they do not agree with some of the terms and the settlement total has dropped. This has led some companies to file their own lawsuits.

Today, Walmart joined the ranks, officially filing a $5 billion lawsuit with the U.S. District Court for the Western District of … more

Walking into a business and seeing an employee using a smartphone or tablet POS system does not have the shock factor that it did a few years ago. As the hardware and backing solutions mature, more companies are starting to get on the bandwagon as a way to improve overall operations and the customer experience.

According to a new report released by IHL Group, a Franklin, Tennessee-based retail market research firm, the adoption of mobile devices for point of sale transactions is growing across the globe. The report found that new mobile POS device shipments are expected to grow more than 95 percent worldwide in 2014 and will surpass 108 percent in North America.

"The move to Mobile POS in certain segments is radically changing the face of retail and hospitality, particularly … more

The saga of merchant interchange rate regulation took another interesting turn last week, when an appellate court reversed a decision from July regarding rules governing fees banks collect with every debit card swipe.

First a quick history. In 2011, the Federal Reserve ruled that debit card swipe fees were to be limited to 21 cents per transaction. In July 2013, a U.S. district court sided with a group of retailers and deemed the cap needed to be lowered. On Friday, that ruling was overturned.

According to an article from Reuters, the decision by the three-member panel U.S. Court of Appeals for the District of Columbia ruled that the Durbin Amendment's ambiguity gave banks the ability to set a higher cap.

A statement from the panel said that agencies and courts alike do not have … more

The point of sale system is a tool that many companies need to be competitive. Because of this, many organizations are looking to improve this process and take it to the next level.

A recent article from Entrepreneur examined several ways cloud technology will be reinventing the sales floor in the coming years. The piece touches on ease when it comes to using and collecting data, tracking sales goals in real-time, monitoring information from multiple stores in real-time and cutting down on the hardware needed at the point-of-sale system.

This includes a bigger push for tablet POS systems backed by a cloud infrastructure.

"Mobile point of sale systems allow retailers to re-imagine physical store layouts to maximize sales and increase the intimacy of customer … more

Over the last few months, the challenges that businesses face when it comes to credit card processing solutions and business payment security have been pushed into the mainstream because of the high profile Target breach. Nearly 110 million customers were affected, and news continues to filter in that keeps the story and its impact fresh in the minds of industry professionals.

Recently, Mercator Advisory Group examined how the market is changing in the face of increased pressure for businesses because of the Target breach. The findings were released in a 22-page report called: "Card Fraud Detection Software: Enterprise and Transaction Solutions Converge."

The study examined several aspects of the current landscape, including EMV implementation, fallout from … more

Whenever there is a breach of payment information, someone at the business where it occurred is going to be held accountable. According to the New York Times, in the wake of one of the biggest breaches in retail history, Target CIO Beth Jacob resigned this week.

Gregg Steinhafel, Target's CEO, said that this will be the beginning of an "overhaul" of how the company protects sensitive information. He added that while the investigation is ongoing, Target recognizes that the state of the security environment is evolving rapidly.

A recent article from ComputerWorld examined this move by the business and asked the question, are there more to blame?

The article features an interview with Gartner analyst Avivah Litan. She noted that keeping payment information safe is facing … more

This blog has covered the increasing push by MasterCard and Visa to speed up the adoption of certain payment technologies and solutions like EMV and near-field communication (NFC). The Senate hearings about the Target breach were the latest example of these card providers highlighting why updated solutions are needed.

Last week, the two companies took it a step further with the announcement of a new cross-industry group made up of banks, credit unions, retailers and industry trade associations with the initial goal of improving card security before the 2015 deadline.

"One of the critical roles we play is to protect consumers and businesses against criminals and fraudsters," said Chris McWilton, president of North American Markets at MasterCard. "Only through industry collaboration and … more